Metaverse has taken the world by storm. The metaverse ecosystem is taking everything under its umbrella from gaming to real estate. Now, it’s looking to breach the barriers of imagination with the new domains, such as trading, fashion shows, meetings, and others, and is being dubbed as the place to meet and greet.
According to Emergen Research, the global Metaverse is poised to reach US$1,607.12 billion in 2030, and therefore, every sector wants to grab the pie early and make the most from it. Last month another sector that tried to breach was the fashion sector. Buoyed by the growth that digital fashion has seen of late, it was only a matter of time before we would have our digital fashion week.
Last month, Metaverse hosted its very own digital fashion week on Decentraland. The success of the fashion week has made several experts predict that Metaverse could well be the place where we could perhaps be the future of several marquee fashion shows.
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A virtual pot of gold
With millions of gamers looking to buy accessories, clothing, and skins for their games, virtual fashion shows could showcase specialised versions of such products and utilise them. Imagine a Ralph Lauren collection hogging millions and being able to garner massive interest in a fashion show on metaverse, which would be followed by not just the fashion biggies but also by related sectors.
With brands, such as Nike, Adidas, etc., already betting big on the growth and expansion of the Metaverse, the virtual world could define the way we look at fashion.
From the customers’ perspective, they can dress up like models, avatars or pose for photos in your special collections, etc. With a wide range of variety, such as workwear, party wear, or vacation wear, Metaverse allows you to dress and get a first-hand look at how you would look using augmented reality and even NFTs.
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Virtual fashion is the future
Future brands and designers could turn to bring their designs to life through computer programs and 3D animations. As Metaverse reduces the gap between the physical world and the virtual world, a Morgan Stanley report estimated that the virtual fashion market could become US$55 billion by 2030.
The Decentraland digital fashion week has shown us that there is a possible market for fashion on Metaverse. Similarly, with NFTs, one can have access to several designer stores once they set up their stores on the Metaverse.
In fact, the first day of the digital fashion show on Decentraland saw Selfridges launching their store on Metaverse. The store showcased the future of Victor Vasarely’s work, and the visitors could buy their chosen outfits by paying NFTs.
All in all, that day is not very far when digital fashion shows will become a regular feature, and we could very well see it growing manifold in the coming years. With each passing day, Metaverse is growing, and virtual fashion shows could be a new norm taking the platform to a new level altogether.
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